The arrests followed a two-year, multi-agency probe into the Angel Toy Corp. Immigration and Customs Enforcement. Two co-owners of the business, Meichun Cheng Huang, 57, and Ling Yu, 52, were arrested, along with chief executive officer Xiaoxin Ju, According to a federal indictment, they were involved in a complex money-laundering scheme that saw representatives from drug trafficking groups drop cash at Angel Toy's downtown headquarters or deposit money into company accounts. The money was then wired to China to purchase teddy bears and other stuffed animals. These toys were allegedly sent on to Columbia, where a businessman sold them and gave the proceeds, in pesos, to the drug traffickers.
Federal government websites often end in. The site is secure. Breadcrumb ICE Newsroom. Los Angeles-area toy company pleads guilty to money laundering conspiracy. LOS ANGELES — A Los Angeles-area toy wholesaler, its two owners and the company's primary bookkeeper pleaded guilty Friday to federal charges related to their participation in an elaborate scheme known as a Black Market Peso Exchange, which enables drug trafficking organizations in Mexico and Colombia to launder proceeds from their drug sales. The defendants entering guilty pleas before U.
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